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IT-based knowledge service complex to be completed by 2016

(Daegu=Yeonhap) by Kim Hyo-jung

Daegu’s Suseong Medical Zone Development Project designed to create a modern medicine, education, culture, and IT-based knowledge service complex, is going smoothly.

The Daegu-Gyeongbuk Free Economic Zone Authority (DGFEZ) announced on June 12 that it started preparing for the project in June by conducting a property survey for compensation eligibility as the Ministry of Knowledge Economy gave the green light to the implementation plan for the development restriction area (1.062㎢) in the Suseong Medical Zone,

Permission for construction of a 3.8 km-long arterial road within the Suseong Medical Zone (with a budget worth KRW 118 billion) is likely to be granted during the second half of this year after an inspection by the Korea Development Institute (KDI) in July as the plan was included in the feasibility study by the Ministry of Strategy and Finance.    

Accordingly, the DGFEZ plans to survey properties eligible for compensation within the Suseong Medical Zone starting in Q3 this year and will announce its compensation plan at the end of this year.

The construction of the medical zone will be in full swing after the completion of administrative procedures for property compensation by the first half of next year. The whole construction will be completed in 2016.  

The DGFEZ plans to create medical, educational and cultural clusters in order to cultivate a smart knowledge service industry.

The DGFEZ originally planned to build the Suseong Medical Zone as a major knowledge service industry complex in the Daegu-Gyeongbuk Economic Free Zone on a 1.789 million square meter lot, covering Daeheung-dong, Gomo-dong, and Icheon-dong, but this area was reduced to 1.219 million square meters in accordance with the free economic zone reform nationwide.  

The Suseong Medical Zone Development Project will be completed with an investment of roughly KRW 771.7 billion. The population of the zone is estimated to be 6,216 people in 2,200 households.

The major business areas housed in the zone include education, medicine, culture, and the IT-based knowledge service industry.

The chief of the cultural and medical zone development team of DGFEZ expects that the Suseong Medical Zone will drive economic development in the Daegu and Gyeongsangbuk-do areas, serving as a hub for the knowledge-based service industry, along with the nearby Sinseo Cutting-edge Medical Complex and Gyeongsan Knowledge Industry Zone.